The past two years have been a roller coaster in local real estate.

From rising prices to record-low (but now rising) mortgage interest rates, people who want to buy homes have a lot of information to catch up on.

Whether you’re thinking about buying your first home or selling your current home to upgrade or downsize, the first question — even before figuring out your monthly payment budget — is deciding what type of mortgage will work best for you. While a 30-year mortgage is common, it may not be the right one for your situation today. Here are a few of your options:

Conventional. The majority of homebuyers take out a “conventional” mortgage. This is typically a 30-year, fixed interest rate mortgage on your home. Sometimes, if you don’t put a certain amount of money down on the home, you’ll pay private mortgage insurance, which can add to your monthly cost.

Accelerated. Similar to a conventional mortgage, an accelerated mortgage pays your principle plus interest on the home, but it compresses your timeline. Instead of paying off your home in 30 years, you may choose a 20-year or 15-year payment plan. This can save you money on interest over the life of the loan, but your monthly costs will be higher.

ARM. Sometimes, homeowners choose what’s called an ARM, which stands for an “adjustable rate mortgage.” This means that instead of locking in a specific interest rate for decades, the interest rate associated with your mortgage may change over time. Often, the interest rate stays the same for the first three or five years before it starts to fluctuate. When interest rates go up, as they are right now, homeowners may see much higher payments.

FHA. The letters FHA stand for Federal Housing Administration, a government agency. FHA loans are generally meant to help low- to moderate-income families attain homeownership, and it’s popular with first-time homebuyers. They usually come with an extra cost for mortgage insurance.

VA. Military service members, veterans and their families have special programs they can tap into to make home ownership more affordable. These are backed by the Veterans Administration, and sometimes come with a $0 down payment. The VA guarantees a portion of the loan, helping military personnel access better rates and loan terms.

In addition, your city, county or state may have its own programs for low-income residents, first-time homebuyers, retirees or other groups that may help with down payments and other aspects of financing, maintaining and repairing a home.

The good news is that you don’t have to navigate this process alone! CommonWealth One’s financial experts and loan officers are here to help you finance (or refinance) all types of mortgages. They’ll help you look at all of your options, come up with the best solution for your personal financial situation, walk you through the process, and help you get pre-approved, too. You’ll be shopping for a home with confidence in no time!